Suffering shareholders of shipping solutions provider Stamps.com (NASDAQ: STMP) got some very welcome news after the U.S. markets closed on Monday. The company announced a new partnership with UPS (NYSE: UPS).
This is a big deal for Stamps.com, as it marks the first major partnership since the company ended its exclusive partnership with the United States Postal Service earlier this year, an event that sent shares reeling. Stamps.com decided to change its business model from the exclusive (but lucrative) deal with the USPS in order to better accommodate an increasingly diverse industry full of emerging shipping partners.
Here's why the market is so excited.